The MAI designation is the highest standing that is available to an appraiser. An appraiser can be a candidate for an MAI designation only after becoming a certified general appraiser. The requirements to become an MAI are much more rigorous than the requirements set forth to become a certified general appraiser; the MAI designation requires additional education and experience, as well as the passage of a rigorous examination, and completion of a demonstration report.
MAI designated appraisers have education and experience in all levels of appraisal work, from the very simple to the most complex assignments. If you need an appraisal, why would you not employ the most qualified professional?
Appraisals performed by MAI’s are among the most sought after appraisals in the commercial real estate community. The Appraisal Institute is a professional organization which monitors its members and holds them to a higher standard than appraisers who have not achieved the designation, and do not belong to such an organization.
Technically, there is no such thing as an “MAI appraisal.” There are only appraisals performed by an appraiser who has completed the Appraisal Institute’s designation requirements, and holds the MAI designation.
An appraiser who has earned the MAI designation is qualified to and experienced in the performance of both residential and commercial properties. Many other appraisers are only qualified for residential property.
We at Global Real Estate Advising and Consulting, Inc., specialize in commercial property valuation and consulting. At one point, lenders were more likely to require that an appraisal be done by an MAI designated appraiser. An appraisal written by an MAI offers lenders an assurance for a quality analysis that allows them to be confident in the value of the collateral.
If you need an appraisal, market study or other commercial real estate services please give us a call at 610-841-9922, or e-mail us at firstname.lastname@example.org
We would be delighted to advise and consult with you and answer any of your commercial real estate questions.
Michel Glower, MAI, MRICS, Ph.D.